New Jersey Gov. Tells Former Revel Casino Owner To Open Or Sell

New Jersey Gov. Chris Christie has urged the owner of former Revel casino, Glenn Straub to sell the property pointing out that he hadn’t yet reopened the casino despite earlier assurances. Gov. Christie has alleged that Straub has repeatedly failed in delivering on his promise to reopen the facility at the earliest.

The governor has also criticized Straub for not applying for a casino license. Straub has refused to apply for a license stating that he’s leasing the property to a third party which will operate the casino. The local Casino Control Commission has ruled that he does need a license, but Straub has filed a lawsuit appealing the decision.

Speaking on a radio program Christie said that anyone looking to profit from a casino business had to be licensed. In a statement Christie said

Uh-uh. Not the way it works. You want to profit from a casino in Atlantic City? We have to see your financials, and you have to be licensed. So I don’t think it’s going to open as a casino unless this guy goes through the appropriate licensure process.

New Jersey 101.5: Watch from 11 mins into interview

Straub has called Christie a lame-duck governor who was discouraging investments into New Jersey. In his lawsuit, Straub has alleged that gaming regulators had failed to follow state statute when they turned down his application to waive the casino license requirement for his company. Christie noted Straub could reopen the property without a casino, but expressed doubts that Straub would come through.

Straub bought the shuttered $2.4 billion Revel for $82 million from the bankruptcy court in 2015, and renamed it as ‘TEN‘. Over the past year, he has made several claims of opening the property but failed to keep each deadline. The developer has repeatedly blamed state and local authorities for delaying the reopening by not issuing necessary permits and approvals.

In a recent media interaction, Straub indicated that TEN might open on June 15.He has earlier said that he is considering opening the hotel portion while he waits for the state Superior Court to rule on his petition on waiving the casino license requirement.

Dale Finch, city director of licensing and inspection expressed surprise on hearing the statement. For Straub to reopen the property, several conditions laid down by the Casino Reinvestment Development Authority have to be met, including submitting a traffic study and a landscaping plan. CRDA officials have clarified that Straub is yet to meet these conditions.

Adrian Sterne

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